A&O, CC advise on Abu Dhabi banks’ bailout

Allen & Overy (A&O) and ­Clifford Chance have advised on the Abu Dhabi ­government’s AED16bn (£2.98bn) bailout of five local banks.

Clifford Chance advised the Abu Dhabi government on its tier 1 capital injection into the emirate’s banks. Capital markets partners Simon Sinclair and Chris Walsh led the team.

A&O advised four of the five financial institutions: Abu Dhabi Commercial Bank, First Gulf Bank, National Bank of Abu Dhabi and Union National Bank. The A&O team was led by Abu Dhabi managing partner Ibrahim Mubaydeen, Dubai head of capital markets Anzal Mohammed and London Islamic finance partner Roger ­Wedderburn-Day.

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